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Laura Rapaport Of North Bridge Closes $8.5 Million C-PACE Loan For JEMB Realty In Manhattan

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FINANCED
$8,500,000

New York

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MultiFamily
Financed 02/18/2026
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FINANCED

Laura Rapaport Of North Bridge Closes $8.5 Million C-PACE Loan For JEMB Realty In Manhattan

50 West 34th Street

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MultiFamily
Financed 02/18/2026
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

A multifamily asset located at 50 West 34th Street in the Manhattan market was involved in a notable financing arrangement. The property consists of a three-building apartment complex known as Herald Towers and is set for infrastructure upgrades. The financing amount for this transaction reached $8,500,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,500,000
  • Lender: Laura Rapaport - North Bridge
  • Landlord: JEMB Realty
  • Date of Transaction: 02/18/2026

This transaction marks the first multifamily C-PACE deal completed in New York City, reflecting a significant milestone in the real estate financing landscape. The financing was arranged through North Bridge ESG LLC, showcasing their role in facilitating the successful closure of this loan.

Players

North Bridge
North Bridge
LENDER
JR
JEMB Realty
LANDLORD

Details

FINANCED
IMAGE: Laura Rapaport DATE: 02/18/2026 ADDRESS: 50 West 34th Street MARKET: Manhattan ASSET TYPE: Multifamily LENDER: Laura Rapaport - North Bridge LANDLORD: JEMB Realty LOAN AMOUNT: $8,500,000 NOTE: North Bridge ESG LLC closed $8.5 million in C-PACE financing for infrastructure upgrades at Herald Towers, a three-building apartment complex at 50 W. 34th St. in Midtown Manhattan — the first multifamily C-PACE deal completed in New York City.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,500,000.00

Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00